EURUSD
The Euro continues to move higher, as near-term recovery rally off 1.0461, 13 Mar low, interrupted by 1.1034/1.0612 pullback, resumes rally, returning focus at the upper targets. Yesterday’s positive close and daily candle with long lower shadow, shows strong buying interest, as yesterday’s rally left higher low at 1.0766 and peaked at 1.0970, after cracking daily Kijun-sen line at 1.0955. Also, break and close above daily 20SMA, now acting as initial support at 1.0878, supports the notion of attempts at pivotal 1.1034 barrier, post-Fed high of 18 Mar, with psychological 1.10 barrier being cracked on fresh attempt higher. Break above 1.1034 to open immediate barriers at 1.1071/96, Fibonacci 61.8% retracement of 1.1449/1.0461 descend / former low of 26 Jan and accelerate recovery. Consolidative action was so far contained at 1.09 support, with extended easing expected to find strong support at 1.0833, Fibonacci 38.2% retracement of 1.0612/1.0970 upleg, reinforced by bull-trendline drawn off 1.0612 low. Only break here and loss of yesterday’s trough at 1.0766, would sideline near-term bulls.
Res: 1.1000; 1.1034; 1.1071; 1.1096
Sup: 1.0900; 1.0878; 1.0833; 1.0791
GBPUSD
Cable entered near-term consolidative phase after repeated failure to break above psychological 1.50 barrier. Near-term studies remain positive and keep the upside in focus, as yesterday’s daily candle with long lower shadow shows strong buying interest. On the other side, caution is required as daily technicals are bearish, with repeated rejections under 1.50 barrier, expected to signal stronger downside attempts. Daily Tenkan-sen line offers initial support at 1.4900, ahead of daily 10SMA at 1.4863 and yesterday’s low at 1.4836, loss of which to revive near-term bears. Conversely, sustained break above 1.50 barrier to signal fresh upside, with break above pivotal daily 20SMA at 1.5071, required to confirm and open key near-term barrier at 1.5160, 18 Mar post-Fed’s rally peak.
Res: 1.4972; 1.4987; 1.5008; 1.5031
Sup: 1.4915; 1.4900; 1.4863; 1.4836
USDJPY
The pair remains under pressure, as near-term price action was capped by daily Kijun-sen at 120.11 yesterday, with fresh acceleration lower, establishing below psychological 120 barrier. Bearish near-term studies favor eventual attack at pivotal 119.28 support, low of 18 Mar, for full retracement of 119.28/121.19 rally and fresh acceleration lower, expected on a break here and 119 handle, reinforced by daily 55SMA. Daily indicators are heading south and support the notion. Break lower to expose next supports at 118.69/61, daily cloud top / daily 100SMA, ahead of 118.19, Fibonacci 61.8% retracement of 115.83/122.01 rally. However, prolonged consolidation above 119.28 support cannot be ruled out, as daily 20d Bollingers are contracting. Corrective rallies to be ideally capped by daily Kijun-sen, with break of pivotal daily 20SMA at 120.37, required to neutralize downside risk.
Res: 119.88; 120.11; 120.37; 120.60
Sup: 119.41; 119.28; 119.00; 118.69
AUDUSD
The pair maintains positive near-term tone and continues to move higher, with psychological 0.79 barrier being cracked on acceleration from 0.7761, yesterday’s low, through pivotal resistance zone at 0.7845/55, previous highs / daily cloud base / daily 55SMA. Yesterday’s rally left long green candle, confirming strong bullish stance for completion of 0.7911/0.7558 downleg. Eventual break above pivotal 0.7911 barrier, high of 26 Feb, to confirm bottom at 0.7558 and open way for stronger recovery. Widening daily 20d Bollinger bands support the notion. However, extended consolidation may precede final attack at 0.7911 barrier. Near-term price action so far holds above initial support at 0.7832, session low / yesterday’s intraday high, while increased downside risk could expected in case of acceleration through 0.7760, higher base and near 50% retracement of 0.7610/0.7900 rally.
Res: 0.7900; 0.7911; 0.7950; 0.8000
Sup: 0.7832; 0.7800; 0.7760; 0.7721
The Euro continues to move higher, as near-term recovery rally off 1.0461, 13 Mar low, interrupted by 1.1034/1.0612 pullback, resumes rally, returning focus at the upper targets. Yesterday’s positive close and daily candle with long lower shadow, shows strong buying interest, as yesterday’s rally left higher low at 1.0766 and peaked at 1.0970, after cracking daily Kijun-sen line at 1.0955. Also, break and close above daily 20SMA, now acting as initial support at 1.0878, supports the notion of attempts at pivotal 1.1034 barrier, post-Fed high of 18 Mar, with psychological 1.10 barrier being cracked on fresh attempt higher. Break above 1.1034 to open immediate barriers at 1.1071/96, Fibonacci 61.8% retracement of 1.1449/1.0461 descend / former low of 26 Jan and accelerate recovery. Consolidative action was so far contained at 1.09 support, with extended easing expected to find strong support at 1.0833, Fibonacci 38.2% retracement of 1.0612/1.0970 upleg, reinforced by bull-trendline drawn off 1.0612 low. Only break here and loss of yesterday’s trough at 1.0766, would sideline near-term bulls.
Res: 1.1000; 1.1034; 1.1071; 1.1096
Sup: 1.0900; 1.0878; 1.0833; 1.0791
GBPUSD
Cable entered near-term consolidative phase after repeated failure to break above psychological 1.50 barrier. Near-term studies remain positive and keep the upside in focus, as yesterday’s daily candle with long lower shadow shows strong buying interest. On the other side, caution is required as daily technicals are bearish, with repeated rejections under 1.50 barrier, expected to signal stronger downside attempts. Daily Tenkan-sen line offers initial support at 1.4900, ahead of daily 10SMA at 1.4863 and yesterday’s low at 1.4836, loss of which to revive near-term bears. Conversely, sustained break above 1.50 barrier to signal fresh upside, with break above pivotal daily 20SMA at 1.5071, required to confirm and open key near-term barrier at 1.5160, 18 Mar post-Fed’s rally peak.
Res: 1.4972; 1.4987; 1.5008; 1.5031
Sup: 1.4915; 1.4900; 1.4863; 1.4836
USDJPY
The pair remains under pressure, as near-term price action was capped by daily Kijun-sen at 120.11 yesterday, with fresh acceleration lower, establishing below psychological 120 barrier. Bearish near-term studies favor eventual attack at pivotal 119.28 support, low of 18 Mar, for full retracement of 119.28/121.19 rally and fresh acceleration lower, expected on a break here and 119 handle, reinforced by daily 55SMA. Daily indicators are heading south and support the notion. Break lower to expose next supports at 118.69/61, daily cloud top / daily 100SMA, ahead of 118.19, Fibonacci 61.8% retracement of 115.83/122.01 rally. However, prolonged consolidation above 119.28 support cannot be ruled out, as daily 20d Bollingers are contracting. Corrective rallies to be ideally capped by daily Kijun-sen, with break of pivotal daily 20SMA at 120.37, required to neutralize downside risk.
Res: 119.88; 120.11; 120.37; 120.60
Sup: 119.41; 119.28; 119.00; 118.69
AUDUSD
The pair maintains positive near-term tone and continues to move higher, with psychological 0.79 barrier being cracked on acceleration from 0.7761, yesterday’s low, through pivotal resistance zone at 0.7845/55, previous highs / daily cloud base / daily 55SMA. Yesterday’s rally left long green candle, confirming strong bullish stance for completion of 0.7911/0.7558 downleg. Eventual break above pivotal 0.7911 barrier, high of 26 Feb, to confirm bottom at 0.7558 and open way for stronger recovery. Widening daily 20d Bollinger bands support the notion. However, extended consolidation may precede final attack at 0.7911 barrier. Near-term price action so far holds above initial support at 0.7832, session low / yesterday’s intraday high, while increased downside risk could expected in case of acceleration through 0.7760, higher base and near 50% retracement of 0.7610/0.7900 rally.
Res: 0.7900; 0.7911; 0.7950; 0.8000
Sup: 0.7832; 0.7800; 0.7760; 0.7721
Recommended Content
Editors’ Picks
EUR/USD advances to near 1.0750 as risk appetite regains balance
EUR/USD extends its winning streak for the third successful day, trading around 1.0730 during the Asian session on Friday. The risk-sensitive currencies like the Euro gain ground as risk appetite regains balance ahead of US Nonfarm Payrolls.
GBP/USD trades on a stronger note 1.2530, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2540 amid the softer US Dollar on Friday. The US Federal Reserve Chair Jerome Powell delivered a modest dovish message after the meeting on Wednesday, which weighs on the Greenback.
Gold lacks firm near-term direction, remains stuck in a range ahead of US NFP
Gold price struggles to gain any meaningful traction amid mixed fundamental cues. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support. Bets for a delayed Fed rate cut and a positive risk tone cap gains ahead of the US NFP.
Solana price pumps 7% as SOL-based POPCAT hits new ATH
Solana price is the biggest gainer among the crypto top 10, with nearly 10% in gains. The surge is ascribed to the growing popularity of projects launched atop the SOL blockchain, which have overtime posted remarkable success.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The United States Employment report will be released by the Bureau of Labor Statistics at 12:30 GMT. The US Dollar looks to employment data after the Fed signaled its intention to hold rates higher for longer on Wednesday.